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Trump Considering 25 Percent Tax On Car Imports

24 May 2018
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Trump Considering 25 Percent Tax On Car Imports

President Donald Trump has the intention to put a 25 percent tariff on imports of cars under a similar authority that allowed him to slap duties on imports of steel and aluminum in order to protect U.S. national security, a senior administration official has confirmed.

 

 

The Commerce Department, at Trump’s request, on Wednesday launched an investigation into the national threat of imported automobiles, trucks and auto parts, this being the first step toward imposing the tariffs. Commerce Secretary Wilbur Ross said in a statement that there is evidence suggesting that imports from abroad have eroded U.S. auto industry.

 

 

Trump is threatening to impose the penalties at the same time that U.S. negotiators are trying to convince Canada and Mexico to agree to demands that would overhaul NAFTA’s auto rules.

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